If you are a homeowner considering mortgage refinancing, it is important to know what reasonable fees you can expect to pay. Comparison shopping for a home mortgage refinance loan will save you thousands of dollars if you know what reasonable rates and fees are. Here are several tips to help you avoid overpaying fees when taking out a home mortgage refinance loan.

Mortgage refinancing can save you thousands of dollars when done correctly. When comparison shopping for a home mortgage refinance loan, it is important to compare lender fees, closing costs, and interest rates using the Good Faith Estimate. Many financial advisors tell you to pick a mortgage based on the Annual Percentage Rate; however, the APR does not give you enough information to make an informed decision.

Home Mortgage Refinance Loan Origination Fees

Origination fees are paid to the Mortgage Company or broker that completes your home mortgage refinance loan. Your home mortgage refinance loan origination fees should not be higher than 1-1.5% for a home you live in. If you are refinancing an investment property you can expect your origination fees to run 2-2.5%.

Home Mortgage Refinance Loan Junk Fees

The next fee to locate on your Good Faith Estimate is the home mortgage refinance loan processing fee. Do not pay more than $400 for loan processing; anything more and the mortgage company is gouging you with the processing fee. Lastly, look for anything on the home mortgage refinance loan Good Faith Estimate that resembles a broker origination or courier fee, application fee, loan submission fee, or lock fees. These are mortgage company junk fees that you should never agree to pay.

You can learn more about home mortgage refinance loans and avoiding costly mistakes by registering for a free mortgage tutorial.

To get your free mortgage tutorial visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. For a free copy of "Mortgage Refinancing - What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.

Claim your free mortgage refinance information guide today at: http://www.refiadvisor.com

Home Mortgage Refinance Loan

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